Paris [France]: Ahead of Prime Minister Narendra Modi’s visit to France to co-chair the AI Summit, Coumar Ananda, President of the Chambers of Commerce and Industry France-India, highlighted that trade between the two nations remains below USD 20 billion, with most transactions centered around defense and aerospace industries.
Ananda stated, “The trade between the two countries has been below USD 20 billion, which used to earlier be in the range of USD 15-18 billion, and was always seen to be used on the defense, aircraft, the air force, with mostly the industries of defense and aeronautics seen to be involved.”
Despite this, he emphasized the untapped potential for broader economic engagement, particularly for Indian businesses in France. “I think there is larger potential – I feel there’s a certain imbalance we see when we note Indian companies present in France. We have less than 100 Indian companies present in France and there is much more potential. Whereas, historically, French companies have been quite present in India – more than a thousand companies are present in India, with some of them being here for more than the last 100 years, some more than that as well. There are a lot of opportunities that Indian companies look at in France.”
Ananda further underscored France’s welcoming stance toward Indian investment, stating, “Today, we are in a situation where France has laid a red carpet for Indian investors. We should benefit from that. It’s not even restricted to certain industries – it’s now across France. Not just the Paris region, but more on the larger scale. For us, this is India’s moment in France. There is openness from the French side, and there is interest from the Indian side also to collaborate more with France.”
During his visit from February 10 to 12, Prime Minister Modi will co-chair the AI Summit alongside French President Emmanuel Macron and address the India-France CEOs Forum, aiming to bolster economic and technological ties.
Foreign Secretary Vikram Misri, in a press briefing on Friday, stressed India’s expectations from the summit, emphasizing that AI applications should be “designed, developed, deployed, and used in a safe, humane, responsible, and trustworthy manner.”
This marks Prime Minister Modi’s sixth official visit to France, underscoring the growing strategic and economic partnership between the two countries.